Is this an oxymoron? Of course profit leads to prosperity! Is the sole purpose of the business to generate profits for the shareholders? Does profit alone equate to increased shareholder value?
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Clico Investment Fund falls $0.23
Overall market activity resulted from trading in 12 securities of which one advanced, three declined and eight traded firm. Trading activity on the first tier market registered a volume of 116,483 shares crossing the floor of the Exchange valued at $1,997,011.80. GraceKennedy Ltd was the volume leader with 40,300 shares changing hands for a value of $148,986.44, followed by Scotia Investments Jamaica Ltd with a volume of 21,000 shares being traded for $29,610.
Scotiabank T&T Ltd contributed 16,604 shares with a value of $1,213,880.55, while First Citizens Bank Ltd added 12,246 shares valued at $526,396.16. Republic Bank Ltd enjoyed the day’s sole price increase, climbing $0.01 to end the day at $116.19. Conversely, Clico Investment Fund suffered the day’s greatest loss, falling $0.23 to close at $22.27. It was the only active security on the mutual fund market, posting a volume of 251,793 shares valued at $5,608,658.21.